Please provide any feedback on the following quote about two weeks ago (so it's at the March money factor):

328xi
metallic paint (monaco blue)
automatic
navigation
satellite radio
ipod and usb adaptor

30 month lease
.00175 money factor
69% residual

msrp: 39920
base cap cost: 38000

monthly payment: $462.00

out the door costs (first month payment, security, ny state taxes, title, registration): $3082.00

thoughts?

How much is your down payment (excluding fees)? Does the base cap cost $1880 off MSRP include your cap cost reduction (down payment)?

Phil

No down payment/cap cost reduction. The money off msrp was negotiated down by me, I put no money down towards cap cost reduction.

Doesn't make sense - if you put no money down, why is your out the door cost >$3000?? First month payment/security/taxes/tags/bank fee - shouldn't that be around $2000?? 1st mo. payment + security <$1000, tags/bank fee around $800. Do you pay taxes up front? In PA we pay 9% on the monthly lease payments.

Yes, NY (like Delaware where I live) requires tax be paid up front. I had to pay tax on the FULL value of the car. Luckily, Delawares tax rate for cars is only 2.75% so my total was around $1280 which was included in my up-front costs.

Exactly, all taxes paid up front. In new york, tax rate for cars is high, so it accounts for over 1000 dollars of my out the door payment. So, that said--thoughts on the deal?

WHy not try the BMW Buyer Program where they give you a balloon finance that is less costly and not a lease ? Rate is 6.75 on a 328 now with a 3 year term. Your payment reduces principal over the 3 years and pays the interest as well. AT end you can refinance, sell it or give it back to them and the remaining balance is forgiven or use trade value on the next one at 64% of original cost.

no one has an opinion on the above offer? i could really use some insights...thanks.

the april numbers went up across the board so why not call the CA and get a new quote?
The numbers you posted look ok.

no one has an opinion on the above offer? i could really use some insights...thanks.

The numbers work out and the cap cost looks pretty good. I got .0016 as a MF. Since you are paying the security deposit you should ask for a lower MF possibly but other than that it looks pretty good. Residual is high but thats not your problem.

FYI...
Monthly payment = (cap cost-residual)/term + MF*(cap cost+residual)

"Yes, NY (like Delaware where I live) requires tax be paid up front. I had to pay tax on the FULL value of the car. Luckily, Delawares tax rate for cars is only 2.75% so my total was around $1280 which was included in my up-front costs."

that's actually not true, you can roll your taxes into the payments in new york, i've done it on all my cars i lease. i just got mine at the end of march, if you have any ques, email me and i'll give you all of my info, if you want.